This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Actions Semiconductor CEO Discusses Q2 2011 Results - Earnings Call Transcript

And now, I’d like to turn the call over to Patricia Chou. Patricia.

Patricia Chou

Thank you for participating in Actions’ earnings conference call. We appreciate your continued interest in Actions. I will provide a business update and discuss financial results for the second quarter of 2011. As well as expectations for future performance.

Niccolo will be available during the Q& A portion of the call where I will translate from Mandarin to English on his behalf.

First, I would like to comment on the press release issued today announcing the CFO transition. Effective August 31 st, I will be stepping down and Nigel Liu will be promoted to the job of CFO.

Nigel has been with Actions since 2007 in several finance-related functions. The Board of Directors and the management team are confident that his experience will provide a seamless transition for the position.

I have enjoyed my nearly five-year tenure with the company. And I continue to be optimistic about Actions long-term growth prospects. I will remain an adviser to the company following my departure.

Now, moving on to our financial results for the second quarter. As a reminder, our financials are reported in accordance with U.S. GAAP.

For the second quarter that ended June 30 th, 2011, we reported a revenue of $10.5 million compared to $9.4 million in the first quarter of 2011. Our gross margin for the second quarter was 37.9% compared to 39.1% for the prior quarter. This slight decline in gross margin was mainly due to the higher volume of lower margin products sold.

For the second quarter, total stock-based compensation was $27 million compared to an expense in the first quarter of $0.6 million.

R&D expense was $5.6 million or 53.4% of revenue for the second quarter compared to $5.1 million in the first quarter. We anticipate our R&D expense to continue to represent a high percentage of revenue as we increase R&D talent to focus on our diversified product development initiatives. In addition, we are focusing more than half of our R&D resources in high-end new product development.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs